How to survive inflation and the upcoming recession

The Bank of England has just forecasted a recession lasting for 15 months and inflation climbing to 13.3% on the day that it has confirmed it is increasing interest rates to 1.75%. With these alarming figures, young people will want to know what they can do to alleviate the coming cost of living crisis. Whilst older people are more likely to have savings and other financial assets, younger people are likely to have nothing to buffer them in times of financial disaster like the upcoming recession.

Therefore, let us help you by offering you advice to survive this economic calamity:

1.Find a job now

With low unemployment and plenty of job openings, it’s still a job seeker’s market. But if there’s a recession, that could change quickly.

Already, there are some companies, especially in the mortgage business, who are making employees redundant. However, several industries tend to experience…